PE Fund of Funds or Distressed Mortgage Shop
Hi, I recently posted a thread regarding offers, and I would like to ask for more advice from the community. I am currently deciding between a PE fund of funds (> $18 bn AUM) and a distressed mortgage buyer. People wrote that the distressed mortgage firm would have more opportunity, but it's very new and I would be doing most of the diligence work (no quant. work). I am worried about the riskiness of this firm; the founders have had prior experience in the mortgage market and were once bankruptcy lawyers. Which one would be recommended... the PE fund of funds or the distressed mortgage shop? Thanks!
Lots of confounding variables but do whichever you like better...PE FoFs are obviously under a ton of pressure and scrutiny after our main man bernie and frankly I view them as worthless...the debt opportunity seems more entrepreneurial and more risky but clearly there is sig opportunity right now in distressed assets and plenty of money to be made. I would make sure that you are compensated according in the HF role so that you can possibly share in the upside should your company take off. That is what I did within my shop and I now have a carry and points/bps in certain deals
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